BITCOIN AND CRYPTO

Bitwise Introduces SMAS to Bitcoin and Ethereum

Bitwise | April 28, 2022

Bitwise_Introduces_SMAS
Bitwise Asset Management announced the launch of its first separately managed account (SMA) for financial advisors to provide direct ownership of crypto assets to their clients. Bitwise's new strategy will benefit investors with a balanced exposure to the world's two most considerable crypto assets and provide the same to the clients. Bitwise Asset Management has been known as the world's leading crypto index fund manager having over $1 billion in assets under management.

The new SMA for Bitcoin and Ethereum will provide investors to participate in cryptocurrency through two widely held assets with different use cases. Bitcoin is the most popular crypto asset and the most valuable store of value. On the other hand, Ethereum is the leading platform for blockchain-based smart contracts, which are at the heart of many fast-growing markets such as decentralized finance (DeFi), stable coins, and non-fungible tokens (NFTs). Together, the two assets value more than 60% of the nearly $2 trillion cryptocurrency market.

The Bitwise BTC/ETH Equal-Weight SMA strategy is specifically relevant for financial advisors looking to assist their clients in managing crypto exposure in conjunction with their broader investment plans. The plan will be put in place following the parameters such as fee collection and billing, portfolio rebalancing, account planning, and integrated reporting.

In crypto, what you invest is essential, but how you invest is perhaps even more important. One thing that has become clear in the conversations we have every day with hundreds of advisors across the country is that they have a strong desire for a vehicle that gives their clients smart crypto exposure and fits into their workflows. The intelligently structured SMA strategy is an excellent solution."

Bitwise Chief Distribution Officer Mick McLaughlin.

Investors can use the SMA structure to transfer existing crypto assets from digital wallets to an investment vehicle that their advisors can monitor and report on without triggering a tax event. Furthermore, unlike traditional fund vehicles, advisors' clients retain direct ownership of the assets, allowing for greater customization and tax-loss harvesting. The strategy is available through the BITRIA platform, which Gemini recently acquired to access the crypto ecosystem for asset managers and advisors.

Five years ago, few people held crypto, and almost all who invested did so in digital wallets without the supervision of a professional. However, cryptocurrency adoption has skyrocketed since then. We also emphasized the importance of managing crypto as part of a larger, coordinated plan with professional oversight. With cryptocurrency as our sole focus, we at Bitwise strive to provide the most comprehensive suite of strategies and vehicles to assist investors in accessing the opportunities in the space in the most appropriate manner. We're excited to implement this new strategy today to meet this growing demand."

Bitwise CEO Hunter Horsley.

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Balboa Capital is a technology-driven independent financing company that provides business owners with fast, hassle-free solutions to fund their companies. Since our inception in 1988, we have funded more than $4.8 billion to businesses throughout the United States.


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FINANCIAL MANAGEMENT

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FINANCIAL MANAGEMENT

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Spotlight

Balboa Capital is a technology-driven independent financing company that provides business owners with fast, hassle-free solutions to fund their companies. Since our inception in 1988, we have funded more than $4.8 billion to businesses throughout the United States.

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